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Credit Unions, ATMs And The Great Digital Banking Shift

PYMNTS

During the pandemic’s early days, ATM runs by panicked consumers got a fair amount of media attention. However, CO-OP’s overall data from its network of 30,000 ATMs didn’t show a lot of people loading up on cash. As Calcanes noted, that means switching many ATMs to “ITMs,” or “interactive teller machines.”. A Data-Driven Future.

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Are ATMs The ‘Mini-Branch’ Of The Future?

PYMNTS

The ATM isn’t living up to its full potential, a fact that’s really starting to come into focus for financial institutions (FIs) under COVID-19. The days of the ATM serving as just a quick cash dispensary are numbered, Sonia Sedler , Diebold Nixdorf ’s global head of managed services and banking strategy, told PYMNTS in a recent discussion.

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Increasing Digital Banking Options Put Pressure On Big Lenders To Adapt

PYMNTS

Dimon’s comments come at a time of aggressive growth and gains by numerous digitally native startups that have modernized and streamlined online banking and payments for the masses. Of course, the pandemic has forced banks – like all businesses – to rethink their priorities and make adjustments to how they interface with customers.

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Virtual Tellers And Workhorse ATMs: Banking’s New (Digital-First) Normal

PYMNTS

The challenge lies with serving the needs of the individual who may be hesitant to go back to the old ways of banking — of walking up to teller windows, of handling cash in envelopes. Reinventing The ATM. Banking in the post-pandemic age, and with a “digital-first” mindset may also see a reinvention of the ATM, said Brown.

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Digital Banking Gaining Scores Of New Users

PYMNTS

Migration to mobile and digital banking ramped up during the pandemic. It’s one of numerous revelations in PYMNTS’ Leveraging The Digital Banking Shift Report , a collaboration with Feedzai , based on a survey of nearly 2,200 U.S. percent of online banking customers using digital channels more. This we know.

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Making Digital Card Features Stick – And Sticky

PYMNTS

That left FIs scrambling to “rapidly figure out how to get that same emotional and engagement outcome when the possibility of face-to-face is virtually nonexistent,” Randy Piatt , head of product solutions at card technology firm Ondot Systems , told PYMNTS in a recent conversation. Simple: Start with the cards.

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ATMs Are Ahead Of Their Time — Again

PYMNTS

The automated teller machine (ATM) debuted 51 years ago in the U.S., They quickly faded into the décor of banks and street corners, becoming a prosaic feature of everyday life. And while some imagined there’d be banks on Mars by 2020, few guessed that dull ATMs would one day reinvent retail banking.

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